AHMEDABAD: The Central Bureau of Investigation (CBI) on Friday filed a chargesheet in a special court right here in opposition to 8 persons including prmotors of Vadodara-based Diamond Power Infrastructure Ltd (DPIL), Amit Bhatnagar, his brother Sumit and father Suresh Bhatnagar, in reference to the alleged Rs 2,654.40-crore bank scam.
Besides the Bhatnagars, 5 others who've been charged in this case are then DGM of Bank of India, Pradep Srivastava, then AGM of the bank Vijay Agnihotri, director of Ruby Cables Ltd Chirag Gada, a DPIL employee Niraj Sheth and the company itself. They were charged for prison conspiracy, dishonest, forgery in addition to below the Prevention of Corruption Act.
CBI registered an FIR in opposition to the Bhatnagars in April and so they were arrested from a resort in Udaipur. The criticism was once also filed in opposition to unknown persons. The charges of corruption were added by CBI on argument that proof prompt involvement of bank officials within the alleged scam. The charges were of duping banks of Rs. 2,654.40 crore by falsification of accounts, creation of false paperwork, forgery and dishonest. It was once further alleged that DPIL engaged within the manufacturing of cables and other electrical equipment, thru its control, had fraudulently availed Credit Facilities from a Consortium of 11 Banks since 2008, with an outstanding amount of Rs.2654.40 crore as on June 29, 2016.
The investigation published that after 2007, the bank officials had allegedly entered into prison conspiracy with DPIL administrators for fraudulent appraisal and disbursal of credit score facilities to the company. DPIL allegedly submitted forged Bill of Exchange and false paperwork of every other non-public cables company without precise purchases for availing Letter of Credit facilities from the Bank of India.
The chargesheet also published that DPIL prmotors had acquired fraudulent paperwork of sale from other non-public companies for availing Letter of Credits facility from Bank of India. In this manner, turnover of the company was once fraudulently inflated for purchasing enhancement in CC limits within the subsequent years and also fraudulently acquired CENVAT credit score from govt. Majority of payments so created from the CC account were routed back to DPIL, the chargesheet claimed.
Besides the Bhatnagars, 5 others who've been charged in this case are then DGM of Bank of India, Pradep Srivastava, then AGM of the bank Vijay Agnihotri, director of Ruby Cables Ltd Chirag Gada, a DPIL employee Niraj Sheth and the company itself. They were charged for prison conspiracy, dishonest, forgery in addition to below the Prevention of Corruption Act.
CBI registered an FIR in opposition to the Bhatnagars in April and so they were arrested from a resort in Udaipur. The criticism was once also filed in opposition to unknown persons. The charges of corruption were added by CBI on argument that proof prompt involvement of bank officials within the alleged scam. The charges were of duping banks of Rs. 2,654.40 crore by falsification of accounts, creation of false paperwork, forgery and dishonest. It was once further alleged that DPIL engaged within the manufacturing of cables and other electrical equipment, thru its control, had fraudulently availed Credit Facilities from a Consortium of 11 Banks since 2008, with an outstanding amount of Rs.2654.40 crore as on June 29, 2016.
The investigation published that after 2007, the bank officials had allegedly entered into prison conspiracy with DPIL administrators for fraudulent appraisal and disbursal of credit score facilities to the company. DPIL allegedly submitted forged Bill of Exchange and false paperwork of every other non-public cables company without precise purchases for availing Letter of Credit facilities from the Bank of India.
The chargesheet also published that DPIL prmotors had acquired fraudulent paperwork of sale from other non-public companies for availing Letter of Credits facility from Bank of India. In this manner, turnover of the company was once fraudulently inflated for purchasing enhancement in CC limits within the subsequent years and also fraudulently acquired CENVAT credit score from govt. Majority of payments so created from the CC account were routed back to DPIL, the chargesheet claimed.
CBI files chargesheet in DPIL’s Rs 2,654 cr scam
![CBI files chargesheet in DPIL’s Rs 2,654 cr scam]()
Reviewed by Kailash
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July 14, 2018
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